竞争视角下市场占有均衡：理论模型与现实解释

市场占有行为是经济主体的理性行为,市场占有的实现方式有市场竞争与政策约束。文章构建市场占有均衡模型,指出经济主体基于自身的市场占有偏好进行市场占有,并根据市场收益的增减或发展目标的重新设计分别对市场占有偏好进行自发性纠正、战略性纠正,从而形成新的市场占有均衡。市场占有均衡因对手的竞争反应的差异而表现出不同的均衡状态。基于市场占有均衡模型,文章以新的角度审视了公共产品供给不足、厂商恶性竞争及国企改革等经济现象。     

COMPETITION LAW AND COMMODITY MARKETS: THE CASE OF WHOLESALE ELECTRICITY

This paper considers some of the challenges that the exercise of market power in commodity markets poses for public policy, focusing on the case of wholesale electricity. The particular economic characteristics of electricity markets can give rise to market conditions where the price elasticities of both demand and supply are very low. Under such conditions, it may not be necessary for a supplier to have control over a large share of available capacity to be able to exercise substantial market power. This paper questions whether the two principal existing forms of supervision of these markets, Competition Law and financial regulation, are sufficient to address the types of problems that can be expected to arise given these characteristics. The answer to that question is in the negative.     

Modes of Commuting in Mumbai: A Discrete Choice Analysis

Using a nested multinomial logit model (NMNL), this paper estimates the choice probabilities and demand elasticities of various modal alternatives for Mumbai using 1990 trip origination and destination data. The results indicate that with an increase in the cost of private transit system, market share is reduced. The result of this experiment is highly elastic private commuting mode demand. In addition, reduction in the market share of own vehicles is larger than that of hired vehicles. The increase in the cost of mass transit system reduces its share but is inelastic. Decrease in the market share of one mode is accompanied by increase in the market share of others. Income has a positive effect on the market share of private transit modes, particularly on the own vehicles' share. Other explanatory variables such as distance have a negative effect on mass transit system and duration has a negative elasticity for all modes of transportation.     

基于顾客份额的企业多元化战略模型探讨

随着市场占有率神话的破灭,理论界发现,市场份额与利润率之间不再存在着某种线型相关,甚至没有显著的相关性,但是忠诚的顾客却能够带来源源不断的利润。因此,企业应该将顾客份额作为重点,实施多元化经营战略,向忠诚的顾客销售相关产品。     

Director co-option and future market share growth

This paper examines the effect of director co-option on product market outcomes. We find that future market share growth declines as executives co-opt more of the board. Co-opted directors also inhibit the product market benefits from cash reserves. These findings hold in a variety of robustness tests, sustaining the view that director co-option reduces product market performance. Our results further show that co-option leads to lower market share gains among firms whose industry rivals intensely change products and have higher borrowing capacity. Compared to their competitors, firms with more co-opted directors also allocate less internal resources to potential product differentiation strategies, but award executives more cash-based pay. Overall, our findings support the agency theory supposition that firms with co-opted boards lose market share ex-post.     

Market value,market share,and mergers: Evidence from a panel of U.S. firms

Improving shareholder value has often been cited as a merger determinant. Because mergers create larger firms and less competition, they may increase shareholder value through higher market share and stock‐market value. We investigate merger impacts on firms' stock‐market value and market share. We construct panel data from 4 different data sources on public merging and non‐merging U.S. manufacturing firms for 1980–2003. Instrumental variables and factors such as R&D, patents, and citations control for endogeneity. We find that mergers are positively correlated with stock‐market value and market share.     

浅议企业物流系统的选择与建立

分析了市场占有率的影响因素,尤其是价格的变动对市场占有率的影响.分析了构成价格的各个要素及对价格的影响程度,说明了企业在不同的物流模式下,物流系统所需的流通费用不同,选择和建立最优的物流系统,降低物流费用从而降低总成本,提高产品的竞争力和市场占有率.     

Frequent acquirers and management compensation

We find positive contemporaneous, short-, and long-run effects of an increase in the acquisition rate on management compensation. A positive bidirectional causality exists between acquisition frequency and management compensation. A higher firm value is likely to associate with higher acquisition frequency. Acquisition rate has a positive impact on the market share. Acquirers with lower market share are more likely to become frequent acquirers. A causal order follows from lower market share to higher acquisition frequency to higher firm value to higher management compensation. The impact of acquisition frequency on management compensation is higher for value-enhancing acquirers relative to value-destroying acquirers.     

股份回购与公司资金成本：财务风险视角

以2005—2022年沪深A股上市公司股份回购数据为样本,考察回购前后资金成本变化情况,发现股份回购后企业资金成本呈上升趋势,其中,对于财务风险大的公司,回购导致资金成本上升的情况更加明显。进一步研究也表明,财务风险大的公司,在回购宣告后,其长期市场反应也更差。研究从资金成本角度解释了当前中国股份回购长期价值缺失的原因,揭示出股份回购的长期价值效应受企业内部条件的作用。     

The relationship between product market competition and unemployment with profit sharing

We investigate the implications of product market imperfections on negotiated wages and equilibrium unemployment under profit sharing. We show that intensified product market competition reduces equilibrium unemployment in a strictly monotonic way when the trade union's bargaining power exceeds the profit share. If the profit share exceeds the trade union's bargaining power, the effect of product market competition is ambiguous: there is a threshold for the benefit–replacement ratio above (below) which intensified product market competition increases (decreases) equilibrium unemployment. The profit share and the union's bargaining power affect the wage mark-up, and thereby equilibrium unemployment, in different directions.     

武汉市节能住宅推广策略分析

住宅节能是我国节约能源的重要领域,然而当前市场占有率仅为3%。节能住宅推广与地域特色紧密相关。本文就以武汉市为例,从节能住宅本身特点入手,分析当前市场占有率低下的原因,指出依靠差异性和低成本抢占市场的推广策略,并利用市场机制,形成节能住宅推广的长效动力。     

TIME IS OF THE ESSENCE? AN EMPIRICAL APPLICATION OF THE COROLLARY OF THE COASE THEOREM

Applying the corollary of the Coase Theorem to the development market developed in Lai et al. (2007a) , we evaluate the proposition that procedural steps to use resources are not contingent on property rights assignment, unless the associated transaction costs are positive or property rights are ambiguous. Using aggregate statistics regarding planning applications for residential use, property prices, construction costs, share prices, interest rates, and application success rates in Hong Kong from 1985 to 2005, we evaluated, using regression techniques, the null hypothesis that there was no change in the relationship between readiness for submission of planning applications and property prices in response to changes in the time limits imposed on planning permissions . The relationship was more pronounced or strengthened (less obvious or weakened) when time limits were first imposed and shorter (longer). This can be explained in terms of the transaction costs of switching resource allocation according to the time limit.     

市场份额、品牌及其优化决策

在市场竞争日益激烈的今天,市场份额始终是厂商追逐的重要目标,尤其在我国,更多的品牌厂商都希望通过规模效益来打垮对手。可是在供过于求的环境下,真正的赢家应该是品牌价值最高的厂家,本文通过市场份额的优化分析,进而提出了维护与提高品牌价值的方法和途径。     

浅论顾客份额营销及其在顾客终价值(CLV)模型中的应用

对顾客份额的产生背景进行分析,通过顾客份额策略与市场份额策略的关系比较,提出了顾客份额的基本观点以及顾客份额策略的适用条件。将顾客份额运用到顾客终身价值模型中,提出了一个新的顾客终身价值模型。最后,给出了顾客份额对我国企业营销实践的有关启示。     

Reply to the commentary

Our conclusion that econometric market share models may not be consistently more accurate than naive models was not surprising to the commentators. The comments they made help clarify the research that is needed to identify when econometric market share models are likely to be useful for forecasting.     

影响国债销售因素及其负面效应探析——以江西抚州市为例

金融理财产品的大量推出以及国债销售主体的商业银行利益取向的变化,直接影响国债在金融投资市场的占有份额,国债投资追逐者逐渐减少,国债销售情况逐渐由热趋冷。为扩大国债发行的市场规模和占有率,本文拟从金融理财产品不断丰富以及国债销售利益分配机制不匹配等具体情况的对比入手,分析国债销售受到冷落的原因,针对性地提出意见或建议。     

Entry-Deterring Capacity in the Texas Lodging Industry

This paper empirically tests whether capacity is used to deter entry and whether the amount invested in entry-deterring capacity is related to market concentration and market presence. We use a unique dataset containing 3,830 lodging properties in Texas from 1991 through 1997. We find that there is higher investment in capacity relative to demand (i.e., idle capacity) in markets with a larger Herfindahl index and by firms with a larger share of market capacity. These results are consistent with the entry deterrence literature that suggests firms in more concentrated markets and firms with a larger market share have greater incentive to invest in entry-deterring capacity.     

商誉交易价值的实证分析

本文通过建立商誉的交易价值模型，采用实证研究方法分析了企业价格（价值）与可控变量，即企业规模、股票流通速度、企业市场占有率以及商誉的交易价值的相关性，对商誉的交易价值五项假定进行了检验。其中商誉的交易价值大小表现为股票的流通股价格和产品交易价格超过它们各自符合假定市场公正平均价格的差额。研究中以公允价格替代有效市场的公正价格做近似处理。     

Profit sharing regulation and repeated bargaining with a shut-down option

We analyze the behavior of a firm where workers share profits with shareholders by using a model cast in an Aoki framework. There are two sorts of uncertainties: one relates to the market price, assumed to follow a random path in continuous time, while the other concerns internal organization, i.e. the share of profits to be distributed between workers and shareholders. In the institutional setting we adopt the firm is flexible, since it has the possibility of shutting down, by paying laid off workers a bonus, which represents a sunk cost. The distributive share is determined in the firm's internal labor market through a bargaining that takes place at two occasions: at the beginning of the firm's life and when profits reach a threshold level. The second bargaining is endogenized according to a procedure imposed upon shareholders and workers by a regulator who may use profit distribution as a way to intervene in the firm's internal labor market. Specificities make this market highly imperfect. Different share parameter patterns result, owing to a shut down option, according to whether (a) the regulator calls for renegotiation when profits are increasing or decreasing, (b) the regulator's rule is announced in advance or is discretionally set.     

中国技术密集型制造业出口竞争力实证研究

2011年中国技术密集型制造业的国际市场份额位居世界第一,但其细分行业的国际市场份额及排名差异较大,产业发展基础和行业地位是引起这种差异的主要原因。根据劳动生产率构造相对优势指标和绝对优势指标,分析发现中国技术密集型制造业的相对优势指标大于2而绝对优势指标小于1。根据我国1995-20111995 2011年数据通过面板协整回归结果表明,技术密集型制造业绝对优势指标对其国际市场份额有显著的正向影响。本文认为,金融危机以后,中国技术密集型制造业出口竞争力将进一步增强。